Greece bailout – News Stories About Greece bailout - Page 5

Greece Bailout: Parliament Likely to Pass Austerity Measures as Strike Paralyzes Country a Second Day

As Vote Looms,
Strike Shutters
Greece 2nd Day

Oct 20, 2011 7:02 AM CDT

As Vote Looms, Strike Shutters Greece 2nd Day

Austerity measures likely to pass despite enraged public

(Newser) - A general strike paralyzed Greece a second day as outraged protesters gathered by the tens of thousands outside parliament today, where lawmakers prepared to vote on intensely unpopular austerity measures needed to secure the next $11 billion installment from the international rescue loans that have so far prevented the country...

As Default Looms,
Strike Paralyzes Greece

Oct 5, 2011 7:56 AM CDT

As Default Looms, Strike Paralyzes Greece

'We've lost everything,' says striker as thousands protest austerity measures

(Newser) - The biggest strike in months has brought Greece to a standstill and tens of thousands of workers are taking to the streets of Athens. The strike, organized by the country's two biggest unions, is in response to the tough austerity measures unveiled earlier this week , reports the Los Angeles ...

Greece Announces Austerity Plan to Fire Workers

Greece to Fire
30K Workers

Oct 2, 2011 3:35 PM CDT

Greece to Fire 30K Workers

Budget deficit will fall short of EU, IMF targets

(Newser) - The Greek economic tragedy took another hair-raising turn today, Reuters reports. Enacting an austerity plan to attract EU and IMF loans, politicians there announced a new plan to place 30,000 workers in a "labor reserve" where they will earn partial pay and be laid off in a year....

Germany OKs Expanded Bailout

Sep 29, 2011 7:40 AM CDT

Germany OKs Expanded Bailout

Merkel gets her win; move designed to shore up euro zone

(Newser) - German lawmakers have cleared the way for an expansion of the size and powers of the euro zone bailout fund, in a major step toward tackling the bloc's sprawling sovereign debt crisis. A clear majority of lawmakers in Germany's lower house of parliament voted today in favor of...

IMF May Need
Billions More

Sep 26, 2011 4:09 AM CDT

IMF May Need Billions More

But Paul Krugman's caveat: expansion, not austerity is needed

(Newser) - The International Monetary Fund needs to expand its $400 billion war chest to more effectively fight the latest round of euro zone crises, which could demand some $2.6 trillion to solve, reports the Telegraph . “The fund’s credibility, and effectiveness, rests on its perceived capacity to cope with...

Stocks Plummet
on Greece Fears

MARKETS

Sep 19, 2011 9:48 AM CDT

Stocks Plummet on Greece Fears

Dow down more than 200 points

(Newser) - Stocks took a dive this morning as investors fretted over Greece’s deepening debt crisis. The Dow plunged 246 points, according to the Wall Street Journal , while the S&P and Nasdaq shed 26 and 55 points, respectively. Crude oil sank as well, dropping below $85 a barrel. “The...

EU Bailout: Greek Default Almost Inevitable, Says Moody's

Moody's:
Greek Default
'Virtually Certain'

Jul 25, 2011 6:27 AM CDT

Moody's: Greek Default 'Virtually Certain'

But EU effort means country will likely stabilize

(Newser) - Moody's downgraded Greece's bond ratings by a further three notches today and warned that it is almost inevitable the country will be considered to be in default following last week's new bailout package . The agency says the new EU package of measures implies "substantial" losses for...

Greece Gets
Bailout Deal

Jul 21, 2011 5:42 PM CDT

Greece Gets Bailout Deal

Eurozone nations, IMF agree to $155B deal

(Newser) - Eurozone leaders today agreed to a sweeping deal that will grant Greece a massive new bailout and radically reshape the currency union's rescue fund, allowing it to act pre-emptively when crises build up. The deal resolves a political deadlock between Europe's top economic authorities over how to save...

S&P: Greek Rescue Plan Would Count as a Default

Jul 4, 2011 11:19 AM CDT

S&P: Greek Rescue Plan Would Count as a Default

Credit rating firm rejects French banks' plans

(Newser) - Greece got yet more bad news today, when Standard & Poor's issued a statement saying that a proposed rescue plan from banks in France "would likely amount to a default" as far as it was concerned. French banks planned to roll over their holdings in the country's...

Greece Passes 2nd
Austerity Bill

Jun 30, 2011 9:25 AM CDT

Greece Passes 2nd Austerity Bill

Final hurdle before receiving bailout funds now cleared

(Newser) - Greece has bought itself some time to deal with its crippling debt crisis after lawmakers cleared the final hurdle for crucial bailout funds to be released, which will prevent the country from defaulting next month. The EU and IMF had demanded Parliament pass two bills— an austerity law and a...

Greek Austerity
Measures Pass

Jun 29, 2011 8:31 AM CDT

Greek Austerity Measures Pass

Despite protests, bill grabs majority in parliament

(Newser) - It’s official: Greece’s parliament has approved a wave of sweeping—and wildly unpopular—austerity measures, paving the way for it to receive bailout loans from Europe to avoid defaulting on its debt, the AP reports. The bill passed 155-138, garnering even the support of Alexandros Athanassiadis, a Socialist...

Streets Erupt as Greece
Begins Austerity Vote

Jun 29, 2011 7:47 AM CDT

Streets Erupt as Greece Begins Austerity Vote

Deep cuts expected to pass

(Newser) - Things got ugly in the streets of Athens today, as Greece’s parliament began voting on austerity measures—needed to keep the nation out of default—that looked increasingly likely to pass. Police firing tear gas fought what Reuters describes as “running battles” with protesters, who threw firebombs, rocks,...

Youths Hurl Rocks as Greeks Begin 2-Day Strike

Jun 28, 2011 7:52 AM CDT

Youths Hurl Rocks as Greeks Begin 2-Day Strike

20,000 march on Parliament

(Newser) - Greek workers launched a 48-hour general strike today to protest government austerity measures as 20,000 demonstrators headed to Parliament and another 7,000 marched in the country’s second-biggest city. Some 5,000 police guarded Athens, and while the initial protests were peaceful, things are heating up. Young people...

Greek PM Faces Critical
Vote of Confidence

Jun 21, 2011 9:21 AM CDT

Greek PM Faces Critical Vote of Confidence

And that's the easy part

(Newser) - Greek Prime Minister George Papandreou faces a critical vote of confidence tonight that will determine both his political future and that of Greece—and in some ways, that’s the easy part. If Papandreou survives the midnight vote (5pm ET) he’ll be able to pass austerity measures that will...

Europe Delays Decision on Handing $17B to Greece

Jun 20, 2011 6:28 AM CDT

Europe Delays Decision on Handing $17B to Greece

New austerity measures must be passed first

(Newser) - European finance officials ramped up pressure today on Greece, delaying their decision on whether to release the next $17 billion in rescue loans to the debt-laden country. Officials indicated the next installment of emergency loans would be disbursed in July, but only if Greece enacts controversial new austerity measures including...

Greece Names
New Finance
Minister

Jun 17, 2011 4:09 AM CDT

Greece Names New Finance Minister

Prime minister George Papandreou reshuffles cabinet

(Newser) - Greek PM George Papandreou replaced his finance minister today in a broad cabinet reshuffle to counter widespread anger over tough new austerity measures essential to prevent Greece from a disastrous default. The critical position, held by George Papaconstantinou since the debt crisis began in late 2009, will now be taken...

IMF Chief's
Sex Rap
Rattles Europe
Economies

May 16, 2011 4:03 AM CDT

IMF Chief's Sex Rap Rattles Europe Economies

Arrest could hinder bailout negotiations

(Newser) - The Manhattan arrest of IMF chief Dominique Strauss-Kahn on attempted rape charges comes at a critical time for the European economy. Key debt bailout negotiations were planned for this week just as Strauss-Kahn will be battling charges against him in New York, reports the Wall Street Journal . A meeting with...

Portugal Gov't
Verges on Collapse

Mar 23, 2011 9:08 AM CDT

Portugal Gov't Verges on Collapse

Country could soon go the way of Greece, Ireland

(Newser) - Today promises to be a tumultuous day in Portugal, with all signs pointing to the resignation of Prime Minister Jose Socrates and the collapse of his minority Socialist administration. The country’s parliament is expected to vote down Socrates’ austerity plan, a move the prime minister contends will force the...

Why the Euro Was
a Horrible Mistake

paul krugman

Jan 13, 2011 12:34 PM CST

Why the Euro Was a Horrible Mistake

And how Europe can rectify it

(Newser) - Europe is a little like a classic Greek tragic hero, brought low by a singular act of hubris: the creation of the euro. In a lengthy piece in the New York Times , Paul Krugman argues that the euro was always a dubious idea, but European leaders “engaged in magical...

Germany Must Stop Carping, Step Up in Euro Crisis

roger cohen

Nov 29, 2010 1:59 PM CST

Germany Must Stop Carping, Step Up in Euro Crisis

Berlin's not getting the bigger picture, writes Roger Cohen

(Newser) - Is the euro the new League of Nations—a grand experiment that eventually gets abandoned and left to waste away? With bailouts in Greece and Ireland and threats to Portugal and Spain, the currency “can no longer take its survival for granted just because its collapse would be unthinkable,...